Fitch Ratings

Jeff Baudier Returns to Bernhard Capital as Senior Managing Director

Retrieved on: 
수요일, 5월 1, 2024
University, Bernhard, Fitch Ratings, Senior, Investment

BATON ROUGE, La., May 1, 2024 /PRNewswire/ -- Bernhard Capital Partners ("Bernhard Capital"), a services and infrastructure-focused private equity management firm, today announced that Jeff Baudier has rejoined the firm as a Senior Managing Director, where he will focus primarily on leading and supporting the firm's infrastructure-related investment activities.

Key Points: 
  • BATON ROUGE, La., May 1, 2024 /PRNewswire/ -- Bernhard Capital Partners ("Bernhard Capital"), a services and infrastructure-focused private equity management firm, today announced that Jeff Baudier has rejoined the firm as a Senior Managing Director, where he will focus primarily on leading and supporting the firm's infrastructure-related investment activities.
  • Mr. Baudier brings significant experience investing in, operating, and leading infrastructure and regulated utilities businesses.
  • Prior to CORE, Mr. Baudier was a Managing Director at Bernhard Capital for three years, during which he was involved in investments in infrastructure and regulated utilities.
  • "I am thrilled to have the chance to once again work alongside the industry-leading team at Bernhard Capital," said Mr. Baudier.

EQS-News: Fitch Ratings affirms “BBB+” rating with stable outlook for Amprion

Retrieved on: 
금요일, 5월 3, 2024
Environment, Fitch Ratings, Fitch

The international rating agency Fitch Ratings has awarded the transmission system operator Amprion GmbH ("Amprion") again a Long-Term Issuer Default Rating “BBB+” with a stable outlook as part of its annual review.

Key Points: 
  • The international rating agency Fitch Ratings has awarded the transmission system operator Amprion GmbH ("Amprion") again a Long-Term Issuer Default Rating “BBB+” with a stable outlook as part of its annual review.
  • Peter Rüth, Chief Financial Officer of Amprion, comments: "Our central role in enabling the energy transition and the associated grid expansion requires highest efforts to achieve the climate targets in Germany.
  • In this challenging environment we see this affirmation of our solid investment-grade rating 'BBB+’ by Fitch also as an appreciation of our stable business model and our reliable, sound financial policy."
  • Amprion plans to invest around € 27.5 billion in the expansion and upgrade of the transmission grid between the years 2024 to 2028.

EQS-News: ProCredit Holding AG has successfully placed EUR 125m Green Tier 2 Bonds

Retrieved on: 
금요일, 5월 3, 2024
ProCredit Holding, Fitch Ratings, Capital market, Luxembourg Stock Exchange, EUR, Euro, Security (finance)

Frankfurt/Main, 25 April 2024 – ProCredit Holding has successfully placed green Tier 2 subordinated bonds with international and domestic institutional investors.

Key Points: 
  • Frankfurt/Main, 25 April 2024 – ProCredit Holding has successfully placed green Tier 2 subordinated bonds with international and domestic institutional investors.
  • The transaction took place just four weeks after the Management Board of ProCredit Holding published and presented to the capital markets the updated business strategy for the ProCredit group, which envisages ambitious growth in the coming years.
  • The strong demand for the bond enabled ProCredit Holding to increase the originally expected placement volume from EUR 100m to EUR 125m.
  • The bonds are rated BB- by Fitch Ratings and listed on the Euro MTF market of the Luxembourg Stock Exchange.

Quad Reports First Quarter 2024 Results

Retrieved on: 
화요일, 4월 30, 2024
Professional Services, Marketing, Data Management, Communications, Data Analytics, Technology, Other Technology, Quad (company), Save Mart Supermarkets, Earnings per share, Debt, Partnership, Fitch, United States Postal Service, Public expenditure, Household, Privacy, Fitch Ratings

Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”), a global marketing experience company, today reported results for the first quarter ended March 31, 2024.

Key Points: 
  • Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”), a global marketing experience company, today reported results for the first quarter ended March 31, 2024.
  • Realized Net Sales of $655 million in the first quarter of 2024 compared to $767 million in 2023, and recognized a Net Loss of $28 million or $0.60 Diluted Loss Per Share for the first quarter of 2024.
  • Achieved Non-GAAP Adjusted EBITDA of $51 million in the first quarter of 2024 compared to $60 million in the first quarter of 2023, and reported $0.10 Adjusted Diluted Earnings Per Share for the first quarter of 2024.
  • Joel Quadracci, Chairman, President and CEO of Quad, said: “Our first quarter results were in-line with our expectations, and we remain confident in our ability to achieve our full-year 2024 financial guidance.

Fitch Ratings Upgrades Cemex to Investment Grade

Retrieved on: 
화요일, 4월 30, 2024
Sustainability, Other Construction & Property, Construction & Property, Environment, Fitch Ratings, S&P Global, Cryptocurrency

Cemex announced today that it has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings.

Key Points: 
  • Cemex announced today that it has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings.
  • This follows S&P Global Ratings’ upgrade announced in March 2024.
  • “Achieving investment grade is a milestone for Cemex,” said Fernando A. González, CEO of Cemex.
  • Also, Cemex also recently announced the closing of a €750 million bank refinancing as part of its comprehensive financing plan designed to increase liquidity and flexibility.

Hilton Grand Vacations Completes $240 Million Term Securitization

Retrieved on: 
목요일, 4월 25, 2024
Vacation, Other Travel, Lodging, Destinations, Travel, Goldman Sachs, MUFG, HGV, Annual report, Class, Security (finance), Trust, S&P, Result, Disclosure, Deutsche Bank, COVID-19, Analysis, Regulation, Blue-green, Marketing, Fitch Ratings, BofA Securities, Wells Fargo, Hilton Grand Vacations, Note

Hilton Grand Vacations Inc. (NYSE:HGV) announces today the completion of a $240 million securitization of legacy Bluegreen Vacations timeshare loans through Hilton Grand Vacations Trust 2024-1B (“the Trust”).

Key Points: 
  • Hilton Grand Vacations Inc. (NYSE:HGV) announces today the completion of a $240 million securitization of legacy Bluegreen Vacations timeshare loans through Hilton Grand Vacations Trust 2024-1B (“the Trust”).
  • Four classes of Notes were issued by the Trust, including approximately $101 million of Class A Notes, approximately $58 million of Class B Notes, approximately $46 million of Class C notes, and approximately $35 million of Class D Notes.
  • “We’re pleased with the nearly 9.2x peak subscription levels on this transaction, reflecting continued strong execution on our leading capital markets platform,” said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations.
  • This transaction marks HGV’s tenth term securitization of timeshare loans, and the first issuance of legacy Bluegreen Vacations collateral under the HGVT issuance shelf.

Fitch Ratings Upgrades Prime Healthcare Foundation Credit Rating

Retrieved on: 
월요일, 4월 15, 2024
Philanthropy, Health, Hospitals, Practice Management, Foundation, General Health, Hospital, Bernard Lown, Health equity, Prime Healthcare Services, PHF, Health care, MD, Fitch, IBM Watson, Rating, Joint Commission, Patient safety, Patient, National Quality Forum, Fitch Ratings, ED, Merative, Nursing

Fitch Ratings has upgraded Prime Healthcare Foundation's (PHF) Issuer Rating and the Revenue Bond Credit rating to BBB+ and Outlook as Stable for its 14 not-for-profit hospitals in six states.

Key Points: 
  • Fitch Ratings has upgraded Prime Healthcare Foundation's (PHF) Issuer Rating and the Revenue Bond Credit rating to BBB+ and Outlook as Stable for its 14 not-for-profit hospitals in six states.
  • The credit rating upgrade by Fitch is the second credit rating upgrade given by the rating agency to PHF in the last three years.
  • "This rating action is a result of a thorough evaluation of Prime Healthcare Foundation's operations, financial position, and local market conditions.
  • Prime Healthcare and Prime Healthcare Foundation comprise 44 hospitals and more than 300 outpatient locations in 14 states, serving over 2.6 million patients annually.

Angel Oak Mortgage REIT, Inc. Prices AOMT 2024-4, a $300 Million Standalone Securitization, Further Expanding Earnings and Releasing Capital for Additional Loan Purchases

Retrieved on: 
수요일, 4월 10, 2024
REIT, Finance, Professional Services, Asset Management, Construction & Property, Oak, M1, Economics, Security (finance), AAA, A1, Fitch Ratings, FICO, Growth, Real estate

The A1 through M1 tranches were sold, with the Company retaining the economics of the unsold tranches.

Key Points: 
  • The A1 through M1 tranches were sold, with the Company retaining the economics of the unsold tranches.
  • With this securitization, the Company will reduce its whole loan warehouse debt by $236 million, reducing its total recourse debt to equity ratio in-kind.
  • With the capital released from the securitization, AOMR intends to accelerate purchases of current market coupon loans, leveraging the Angel Oak ecosystem and purchasing new loans primarily through its affiliated mortgage originator.
  • The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

LoanCare® Receives Fitch Rating for Closed-End Second Lien Products

Retrieved on: 
월요일, 4월 15, 2024
HELOC, MSP, Environment, Fitch Ratings, Fitch, Investment, Probability, Fidelity National Financial

VIRGINIA BEACH, Va., April 15, 2024 /PRNewswire/ -- LoanCare®, LLC, a top U.S. mortgage subservicer, announced today that Fitch Ratings has assigned the company the U.S. residential primary servicer for specialty Closed-End Second Lien products rating of RPS2+; Outlook Stable.

Key Points: 
  • VIRGINIA BEACH, Va., April 15, 2024 /PRNewswire/ -- LoanCare®, LLC, a top U.S. mortgage subservicer, announced today that Fitch Ratings has assigned the company the U.S. residential primary servicer for specialty Closed-End Second Lien products rating of RPS2+; Outlook Stable.
  • The rating validates LoanCare's comprehensive understanding of the complexities involved in servicing home equity lines of credit (HELOC).
  • Due to the added requirements in second lien operations, knowing what's required for statements, ensuring interest calculations are accurate, and managing onboarding setup is critical.
  • Fitch Ratings is a prominent rating agency that evaluates the viability of investments concerning the probability of default.

Press release: Leonteq becomes market maker at BX Swiss

Retrieved on: 
수요일, 4월 10, 2024
MSCI, Fitch Ratings, Research, SIX Swiss Exchange, BBB

Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions.

Key Points: 
  • Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions.
  • Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees.
  • Leonteq AG has a BBB credit rating by Fitch Ratings, was assigned with an AA ESG rating by MSCI and is listed on the SIX Swiss Exchange (SIX: LEON).
  • www.leonteq.com
    This press release issued by Leonteq AG (the “Company”) serves for information purposes only and does not constitute research.